TG-17, a New York-based personal security technology company, has filed for a direct listing on the Nasdaq, allowing existing shareholders to sell up to 8.3 million shares without raising new capital. While the company has not disclosed a reference price or listing date, a recent transaction implies a potential valuation of around $325 million. The move positions TG-17 as a new entrant in the expanding digital security space amid rising global demand for personal protection and AI-driven emergency response solutions.
Company Background
Founded in 2017, TG-17 operates through its subsidiary Bond, providing a cloud-based personal security platform that combines human monitoring with artificial intelligence. The company offers 14 monitoring and emergency coordination services across 28 countries, catering to corporate, government, and individual clients. Its offerings include AI-enabled mobile alerts, live agent support, executive protection, and drone-assisted emergency response. The company has built its reputation on leveraging technology to offer scalable, real-time safety solutions. Over the 12 months ending June 30, 2025, TG-17 generated $10 million in revenue, reflecting both early traction and room for expansion.
IPO Details
TG-17’s listing will be structured as a direct listing, meaning no new shares will be issued and no fresh capital will be raised. Instead, existing shareholders will be allowed to sell up to 8.3 million shares. In August 2025, the company converted 0.7 million Series E shares at an implied price of $10 per share, suggesting a market capitalization of roughly $325 million if the stock lists near that level. The company plans to trade under the ticker symbol “OBAI” on the Nasdaq. Because this is a direct listing, there are no traditional underwriters, though Maxim Group will act as the financial advisor, guiding the process and supporting the transition to public trading.
Market Context & Opportunities
TG-17 enters the public market at a time when personal safety and security technologies are gaining strong traction, driven by both corporate and consumer adoption. Increasing urbanization, political instability, and global travel have fueled interest in real-time protection and emergency management platforms. The global personal security market is expected to expand rapidly through the late 2020s, supported by advances in AI, IoT integration, and cloud-based monitoring systems. TG-17’s model—combining human response with automation—positions it well within this trend. The firm’s technology-first approach could help it capture market share from traditional security service providers while appealing to digital-first consumers and enterprises seeking scalable safety solutions.
Risks & Challenges
However, TG-17’s path to profitability remains uncertain. With modest annual revenues relative to its potential valuation, investors may question whether the firm can achieve sustainable growth without significant capital infusion. Additionally, the personal security industry is highly competitive, featuring both established providers and emerging startups leveraging similar AI-driven models. As a direct listing, TG-17 also faces the challenge of market-driven price discovery, which can result in volatility during the early trading period. Regulatory compliance across multiple jurisdictions, as well as the company’s reliance on continuous innovation and cloud reliability, adds further layers of operational risk.
Closing Paragraph
TG-17’s direct listing represents more than a liquidity event—it’s a litmus test for investor appetite in the AI-enabled personal safety market. If the company’s technology and global expansion strategy resonate with investors, TG-17 could establish itself as a leading name in digital protection. Yet, with no new capital raised and modest revenue growth to date, the coming months will reveal whether this debut marks a transformative moment for tech-enabled security—or just another cautious step into the public market.
